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Market Update: Japanese Yen Lifts
The Japanese Yen added 0.156 points or 0.14% to 108.754 against the US Dollar on Monday. The Greenback eased against most of its peers as risk sentiment improved after last weeks data showed strong comeback by the services sector both in the US and Europe as businesses reopened following prolonged lockdown and benefited from a global demand recovery. Local 10-year bond yields were at 0.082% while US 10-year rates were at 1.618%. Meantime, traders continue to monitor a volatile slump in cryptocurrencies due to stricter regulation in Chinese markets, while concerns linger that the post-pandemic recovery could stoke price pressures and force a pullback in extraordinary central bank support. Traders now look toward the release of US consumer prices later in the week, along with the 2nd estimate Q1 US GDP and President Biden’s FY2022 budget. [/s2If]
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